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IP

International Paper

$47.09

-0.65 (-1.36%)

, PKG

Packaging Corp.

$101.51

-1.875 (-1.81%)

09:18
04/16/19
04/16
09:18
04/16/19
09:18

International Paper, Packaging Corp. downgraded to Neutral at BofA/Merrill

As previously reported, BofA Merrill Lynch analyst George Staphos downgraded International Paper (IP) and Packaging Corp. (PKG), each to Neutral from Buy, following "disappointing" March containerboard industry data points reported today. Box shipments were down a "surprising" 3.0% year-over-year and inventories declined 47,000 tons, said Staphos, who believes the industry needs to drop inventories 400-500K tons between February and June to get back into balance. The analyst, who now anticipates an increased likelihood of another price cut during Q2, lowered his price target on International Paper shares to $50 from $53, cut his price target on Packaging Corp. to $107 from $112 and lowered his price target on WestRock (WRK) to $41 from $43.

IP

International Paper

$47.09

-0.65 (-1.36%)

PKG

Packaging Corp.

$101.51

-1.875 (-1.81%)

WRK

WestRock

$38.73

-0.8 (-2.02%)

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    Nov

IP International Paper
$47.09

-0.65 (-1.36%)

04/05/19
RBCM
04/05/19
DOWNGRADE
RBCM
Sector Perform
International Paper downgraded to Sector Perform from Outperform at RBC Capital
04/05/19
04/05/19
DOWNGRADE
Target $47

Sector Perform
International Paper cut to Sector Perform at RBC Capital on market conditions
As previously reported, RBC Capital analyst Paul Quinn downgraded International Paper to Sector Perform from Outperform and lowered his price target to $47 from $54. The analyst notes that while International Paper is a "great company", investors have increased scrutiny on the containerboard market due to the "softening demand and fears of incremental capacity coming online" as year-to-date shipment growth slowed to 0.8% from 1.5% in 2018. Quinn sees the slowdown constraining packaging sector valuations with little market benefit coming from UFS capacity cuts.
04/05/19
04/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Aaron Rakers saying the shares, after rallying 19% year-to-date, reflect a more balanced risk/reward. 2. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees headwinds in 2019 as competition intensifies and the company is "unlikely to repeat its innovation success again this year." 3. Ford (F) downgraded to Reduce from Neutral at Nomura Instinet with analyst Anindya Das saying Ford's higher share of the U.K. auto market compared to the rest of Europe makes it more susceptible to Brexit risks. 4. Constellation Brands (STZ) downgraded to Hold from Buy at Deutsche Bank. 5. International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Paul Quinn saying while International Paper is a "great company," investors have increased scrutiny on the containerboard market due to the "softening demand and fears of incremental capacity coming online" as year-to-date shipment growth slowed to 0.8% from 1.5% in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/19
BOFA
04/16/19
DOWNGRADE
BOFA
Neutral
International Paper downgraded to Neutral from Buy at BofA/Merrill
PKG Packaging Corp.
$101.51

-1.875 (-1.81%)

04/16/19
BOFA
04/16/19
DOWNGRADE
BOFA
Neutral
Packaging Corp. downgraded to Neutral from Buy at BofA/Merrill
01/17/19
DBAB
01/17/19
NO CHANGE
DBAB
Deutsche Bank cuts price targets in containerboard space
In addition to lingering concern over the impact of new supply, investors are now even more cautious on the containerboard stocks due to industry data showing growth moderating and persistently elevated inventories, Deutsche Bank analyst Debbie Jones tells investors in a research note titled "Thinking about downside risk to containerboard stocks." Trade publication Pulp and Paper Week also highlighted some domestic discounting and declining export prices while quoting bearish commentary from industry contacts and analysts regarding market conditions, adds the analyst. She lowered her price target for Hold-rated International Paper (IP) to $46 from $55, for Buy-rated WestRock (WRK) to $51 from $58 and for Hold-rated Packaging Corp. of America to $100 from $120.
01/09/19
WELS
01/09/19
DOWNGRADE
Target $93
WELS
Market Perform
Packaging Corp. downgraded to Market Perform at Wells Fargo
As previously reported, Wells Fargo analyst Gabe Hajde downgraded Packaging Corp. to Market Perform from Outperform and lowered his price target on the shares to $93 from $110. The analyst notes that the domestic containerboard prices have yet to fracture, though a downshift in demand could provide the necessary ingredient for weakness to emerge. Evading a drop in containerboard pricing will prove to be a difficult undertaking for the domestic containerboard industry in 2019, he adds. Hajde believes demand growth could stay in the 1.0%-2.0% range in 2019 and beyond as global economic activity downshifts and the e-commerce channel continues to emphasize "right-sized" packaging. Lastly, the potential for China to alter its hardline on recovered paper imports would limit any upside potential in export containerboard markets, he contends.
01/09/19
WELS
01/09/19
DOWNGRADE
WELS
Market Perform
Packaging Corp. downgraded to Market Perform from Outperform at Wells Fargo
WRK WestRock
$38.73

-0.8 (-2.02%)

01/07/19
SBSH
01/07/19
DOWNGRADE
Target $42
SBSH
Neutral
WestRock downgraded to Neutral from Buy at Citi
Citi analyst Anthony Pettinari downgraded WestRock (WRK) to Neutral and lowered his price target for the shares to $42 from $52. The analyst says the downgrade reflects a more defensive positioning for Paper & Packaging in 2019. Following 2018's underperformance there are some supportive signs on valuation, with the Packagers' disconnect from Consumer Staples "especially noteworthy," Pettinari tells investors in a research note. Crown Holdings (CCK), Berry Global (BERY) and Graphic Packaging (GPK) are his top picks for 2019.
01/08/19
RBCM
01/08/19
DOWNGRADE
RBCM
Sector Perform
WestRock downgraded to Sector Perform from Outperform at RBC Capital
01/08/19
RBCM
01/08/19
DOWNGRADE
Target $47
RBCM
Sector Perform
WestRock cut to Sector Perform at RBC Capital on c-board/packaging sector risks
As reported earlier, RBC Capital analyst Paul Quinn downgraded WestRock to Sector Perform from Outperform and also lowered his price target to $47 from $64. The analyst cites the well-known "wall of worry" faced by the packaging producers in 2019, stating that while the company represents a "solid longer term investment", he urges investors to be "more selective" in containerboard and packaging sector exposure. Quinn adds that the cost headwinds faced by companies like WestRock have been greater than anticipated, and the lag in industry price increases have been "considerable".

TODAY'S FREE FLY STORIES

SGEN

Seattle Genetics

$71.10

1.69 (2.43%)

21:00
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TCBK

TriCo Bancshares

$39.57

-0.47 (-1.17%)

20:35
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XOM

Exxon Mobil

$82.25

0.51 (0.62%)

, CVX

Chevron

$117.93

-0.38 (-0.32%)

20:25
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XOM

Exxon Mobil

$82.25

0.51 (0.62%)

CVX

Chevron

$117.93

-0.38 (-0.32%)

CL

Colgate-Palmolive

$68.64

-0.2 (-0.29%)

ADM

Archer Daniels

$41.77

-0.99 (-2.32%)

WY

Weyerhaeuser

$26.27

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AAL

American Airlines

$33.36

-0.64 (-1.88%)

LEA

Lear

$146.64

-6.455 (-4.22%)

IPG

Interpublic Group

$22.28

-0.26 (-1.15%)

GT

Goodyear Tire

$19.56

-0.54 (-2.69%)

AN

AutoNation

$39.43

0.91 (2.36%)

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ATRC

AtriCure

$28.19

0.21 (0.75%)

20:18
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04/25
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20:18
Recommendations
AtriCure analyst commentary at Piper Jaffray »

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NOW

ServiceNow

$260.95

18.54 (7.65%)

19:43
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04/25
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19:43
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ServiceNow analyst commentary at Jefferies »

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GFI

Gold Fields

$3.74

0.08 (2.19%)

19:34
04/25/19
04/25
19:34
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19:34
Upgrade
Gold Fields rating change at BMO Capital »

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

19:28
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EHTH

eHealth

$62.23

0.32 (0.52%)

, MAT

Mattel

$12.30

-0.25 (-1.99%)

19:02
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Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

EHTH

eHealth

$62.23

0.32 (0.52%)

MAT

Mattel

$12.30

-0.25 (-1.99%)

KNL

Knoll

$20.57

-0.22 (-1.06%)

GRUB

GrubHub

$69.83

0.53 (0.76%)

PRO

Pros Holdings

$45.06

-0.25 (-0.55%)

F

Ford

$9.41

-0.17 (-1.77%)

COF

Capital One

$88.09

0.3 (0.34%)

SFLY

Shutterfly

$42.30

-0.65 (-1.51%)

COLM

Columbia Sportswear

$104.45

-0.65 (-0.62%)

SWN

Southwestern Energy

$4.03

-0.13 (-3.13%)

DFS

Discover

$77.48

0.43 (0.56%)

LOGM

LogMeln

$84.32

0.085 (0.10%)

BABY

Natus Medical

$25.20

0.54 (2.19%)

AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

TMUS

T-Mobile

$72.68

-0.67 (-0.91%)

SBUX

Starbucks

$77.07

0.65 (0.85%)

ATEN

A10 Networks

$7.28

0.14 (1.96%)

PFPT

Proofpoint

$131.35

3.56 (2.79%)

FII

Federated Investors

$33.57

0.605 (1.84%)

INTC

Intel

$57.59

-1.13 (-1.92%)

BEAT

BioTelemetry

$59.26

0.52 (0.89%)

BGG

Briggs & Stratton

$13.61

-0.44 (-3.13%)

SKYW

SkyWest

$58.44

-1.31 (-2.19%)

SGEN

Seattle Genetics

$71.10

1.69 (2.43%)

VCRA

Vocera

$31.31

0.36 (1.16%)

ILMN

Illumina

$318.91

4.47 (1.42%)

INT

World Fuel Services

$31.15

0.1 (0.32%)

BMRN

BioMarin

$85.40

-0.06 (-0.07%)

MHK

Mohawk

$130.69

-3.46 (-2.58%)

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ATEN

A10 Networks

$7.28

0.14 (1.96%)

19:00
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Earnings
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ATEN

A10 Networks

$7.28

0.14 (1.96%)

18:59
04/25/19
04/25
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Earnings
A10 Networks reports Q1 EPS (9c), two estimates (7c) »

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  • 25

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CNC

Centene

$50.20

0.04 (0.08%)

18:44
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APHA

Aphria

$7.64

-0.17 (-2.18%)

18:23
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Green Growth Brands says offer for Aphria has expired »

Green Growth Brands…

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ALGN

Align Technology

$296.77

-0.35 (-0.12%)

18:21
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Hot Stocks
Align Technology CEO: We are enjoying good growth in North America »

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AAPL

Apple

$205.28

-1.82 (-0.88%)

18:21
04/25/19
04/25
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18:21
Periodicals
Several veterans leave Apple's design team, WSJ reports »

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FB

Facebook

$193.23

10.59 (5.80%)

18:18
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Canadian agency says probe shows Facebook broke privacy law »

Canada's Office of…

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NOV

National Oilwell

$26.44

-0.04 (-0.15%)

18:17
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04/25
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Earnings
National Oilwell reports Q1 EPS (20c), consensus (8c) »

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FB

Facebook

$193.23

10.59 (5.80%)

18:16
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04/25
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18:16
Hot Stocks
Ireland's DPC opens statutory inquiry into Facebook »

Ireland's Data…

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FB

Facebook

$193.23

10.59 (5.80%)

18:15
04/25/19
04/25
18:15
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18:15
Hot Stocks
NY AG to investigate Facebook's collection of user email contact databases »

New York State Attorney…

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

18:09
04/25/19
04/25
18:09
04/25/19
18:09
Hot Stocks
Amazon.com says had 'a lot of good customer wins' in Q1 »

Says: Usage growth higher…

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FIBK

First Interstate

$41.94

-0.63 (-1.48%)

18:08
04/25/19
04/25
18:08
04/25/19
18:08
Earnings
First Interstate reports Q1 EPS 69c, consensus 72c »

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F

Ford

$9.41

-0.17 (-1.77%)

18:03
04/25/19
04/25
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18:03
Hot Stocks
Breaking Hot Stocks news story on Ford »

Ford says improving…

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PUB

People's Utah Bancorp

$28.02

0.09 (0.32%)

18:01
04/25/19
04/25
18:01
04/25/19
18:01
Earnings
People's Utah Bancorp reports Q1 EPS ,55c consensus 55c »

Reports Q1 NII $26.91M,…

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AEGN

Aegion

$19.44

-0.58 (-2.90%)

17:57
04/25/19
04/25
17:57
04/25/19
17:57
Hot Stocks
Aegion subsidiary awarded three contracts valued at $13M total »

Aegion announced that its…

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  • 02

    May

AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

17:55
04/25/19
04/25
17:55
04/25/19
17:55
Hot Stocks
Amazon.com says will spend $800M in Q2 to move to one-day Prime delivery »

Says: Need to build out…

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F

Ford

$9.41

-0.17 (-1.77%)

17:53
04/25/19
04/25
17:53
04/25/19
17:53
Hot Stocks
Ford CFO: Encouraged by progress made in China toward return to profitability »

Sees FY19 revenue growth,…

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Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.